EXTRACT OF GENERAL LAW OF THE FINANCIAL AND

INSURANCE SYSTEMS AND ORGANIC LAW OF THE

SUPERINTENDENCY OF BANKING AND INSURANCE

LAW No 26702
SUB-CHAPTER III
TRUST COMMISSIONS

Article 275°.- TRUST COMMISSIONS

Trust commissions stated, without prejudice of the rest authorized by the Superintendency, may accept
and the companies execute, according to numeral 32 of article 221° as follows:
1. To realize functions of depositaries and interveners of seizured goods, except when the deposit
concerns money.
2. To administer provisionally the businesses and societies that are in a process of economical and
financial re-structure, according to the subject law.
3. To fulfill the functions of administration, realization and liquidation of the goods of the societies
declared in bankruptcy according to the subject law.
4. To be administrators of common goods by agreement of the party, or by nomination of the specialized
judge in the case of article 772° of the Civil Process Code.
5. To act as testamentary or court appointed executor.
6. To keep under custody the goods of minors or incompetent persos, in cases referred to article 503° of
the Civil Code and in all the rest in which such Code disposes or authorizes the nomination of special
trustee, testamentary or dative, for all or part of the goods of the minor or incompetent.
7. To act as custodians of goods of those judicially declared as missing.
8. To administer goods left by testament or donated under condition or until a certain day with the
purpose of handling them to the heirs, legaties or donees when the condition is fulfilled or the day
arrives.
9. To assume the administration of goods left by a will or by act among living, for public work,
establishment of benefaction or education or other lawful purposes granted by the testator or donor,
according to the will of the institutive.
10. To assume the administration of goods that might be left by a will or by inter vivos act with the
purpose that the fideicommissary receives the income during his life or by the time determine by the
provider.
11. To act as administrators of goods encumbered with usufructs, when it has been established in the
constitutive act.
12. To serve as representative of the titleholders of bonds issued by anonymous societies.
13. To administer portfolios.
14. To celebrate mandatory contracts, with or without representation including general or special powers
to:
i To administer goods
ii To collect credits or documents
iii To buy and sell actions, bonds and other movable value.
iv To receive dividends and interests
v To represent titulars of actions, bonds and securities